surge in eco friendly practices propels polyacrylic acid market to new heights 64

Market Trends

Surge in Eco-friendly Practices Propels Polyacrylic Acid Market to New Heights


Lauren Miller

April 5, 2024 - 03:56 am


Surging Demand in Automotive and Construction Sectors Fuels the Growth of the Polyacrylic Acid Market

WILMINGTON, Del., April 4, 2024 - In a recent publication by Allied Market Research, the global Polyacrylic Acid Market has been meticulously analyzed, offering a comprehensive overview of its growth trajectory and future prospects. Titled "Polyacrylic Acid Market by Type (Synthetic and Bio-Based), Application (Thickeners, Dispersant, Scale Inhibitor, Emulsifiers, Binders, and Others), and End-use Industry (Construction, Paints & Coatings, Pulp & Paper, Adhesives & Sealants, Water Treatment, Pharmaceuticals, Cosmetics, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032," the report sheds light on its intrinsic value that stood at a remarkable $4.0 billion as of 2022 and is projected to escalate to a staggering $6.7 billion by 2032. This growth signifies a steady CAGR of 5.4% from 2023 to 2032, reflecting the compound's escalating demand across various industries.

Key Drivers Behind The Market Expansion

The market expansion for polyacrylic acid is deeply rooted in the rapid upsurge of industrial activities, especially within the realms of construction, and infrastructure development. Despite facing challenges posed by the fluctuating costs of raw materials, the polyacrylic acid market finds robust support from the growing inclination towards sustainable industrial practices. These green methodologies have unfurled lucrative avenues for the market to augment its footprint worldwide.

Discover the Fascinating Insights

Unveiling the Report's Coverage and Critical Data Points:

The report encapsulates an array of crucial market details, spanning over highly informative 265 pages. It delves deeply into the intricate aspects of the market, covering the forecast period from 2023 to 2032 with 2022 as the base year for the comprehensive analysis.

Report Coverage & Ample Details:

| Report Coverage | Details | |-------------------|-----------------------------------------| | Forecast Period | 2023–2032 | | Base Year | 2022 | | Market Size In 2022 | $4.0 Billion | | Market Size In 2032 | $6.7 Billion | | CAGR | 5.4% | | No. Of Pages In Report | 265 | | Segments Covered | Type, Application, End-Use Industry, And Region | | Region Scope | North America, Europe, Asia-Pacific, And LAMEA | | Country Scope | U.S., Canada, and Mexico; Germany; UK; France; Italy; Spain; China; Japan; India; South Korea; Australia; Brazil; Saudi Arabia; South Africa | | Drivers | Industrial Growth, Construction And Infrastructure Development | | Opportunity | Rise In Adoption Of Sustainable Practices | | Restraint | Fluctuating Raw Material Prices |

Synthetic vs. Bio-Based Segments: A Comparative Outlook

The overwhelming dominance of the synthetic segment in 2022, claiming over four-fifths of the market revenue, is largely attributed to the polyacrylic acid's superior superabsorbent qualities. These characteristics are increasingly sought after in products like adult diapers, buoyed by the rise in the elderly population, the influx of newborns, heightened water quality concerns, and technological advancements across developing nations. Conversely, it is the bio-based segment that is anticipated to exhibit the most vigorous CAGR of 5.9% through to 2032, spurred on by the quest for sustainable products governed by an uptick in eco-conscious consumer behaviors and the burgeoning circular economy.

The Ascendancy of the Scale Inhibitor Segment

In 2022, the scale inhibitor segment clinched the lion's share of the market, with emphasis remaining steadfast throughout the projection period. This segment’s ascendancy is fueled by the pressing demands of water treatment in industries such as power generation, chemical manufacturing, and oil and gas. Mirroring these demands are the imperatives of environmental governance, the scarcity of water resources, as well as the march of industry and technological progression.

Yet, it is the thickeners segment that is slated for the most robust CAGR at 6.2% during the forecast period, driven by an insatiable demand within the cosmetics and personal care sectors. The burgeoning global cosmetics industry, poised for a market size of $518.6 billion, presents lucrative opportunities for the use of polyacrylic acid, which dovetails seamlessly with the sector's shift towards natural and organic compositions. With e-commerce making waves and firms steadfastly committed to innovation, the polyacrylic acid market is set to thrive.

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Polyacrylic Acid: A Staple in Water Treatment

It's the water treatment industry that anchors the polyacrylic acid market, with a significant chunk of the market share in 2022 and a forecasted continuity of dominance. A drastic rise in industrialization, urbanization, and demographic expansion have been instrumental in escalating pollution levels in water bodies, thereby necessitating efficient treatment mechanisms in which polyacrylic acid plays a pivotal role. With policy makers tightening the reins on environmental regulations and technology evolving at a breakneck pace, polyacrylic acid's market horizon appears promising.

Nevertheless, an equally promising segment, cosmetics, is projected to register the highest CAGR of 6.80% from 2023 to 2032. The Indian cosmetic market's expansion is a testament to this, with the increased affordability and heightened awareness around personal grooming propelling this segment forward. Premium product consumption amongst the growing middle class translates to rich opportunities for customized product development and potential collaborations with cosmetic manufacturers, placing great importance on regulatory compliances.

Asia-Pacific's Dominance in the Polyacrylic Acid Market

The Asia-Pacific region outshines others in terms of market share, keeping the beacon aloft during the forecast period. With countries like China, Japan, South Korea, and India at the vanguard of manufacturing and consumption, the demand for polyacrylic acid is strengthening in tandem with the regional push for industrial expansion and environmental sustainability. Technological advancements and the development of eco-friendly variants are anticipated to amplify polyacrylic acid's appeal across the Asia-Pacific expanse.

Explore Key Players' Market Strategies

Leading Entities Steering the Market

The study confers in-depth analyses on principal market players, encompassing strategies ranging from new product introductions, collaborations, to strategic alliances. Some of the vanguards driving the industry ahead include:

  • Acuro Organics Limited
  • Evonik Industries AG
  • Sumitomo Seika Chemicals
  • Dow
  • Maxwell Additives Pvt, Ltd
  • Nippon Shokubai Co. Ltd
  • Ashland Inc.
  • Lubrizol Corporation
  • Arkema

These firms are riding the crest of development by constantly innovating and expanding their market influence through various strategic moves.

A Glimpse into Parallel Market Studies:

Further enriching the scope, the report aligns with other allied studies that investigate markets such as:

These studies collectively cast a wider net on the intricate interplay between various compounds and their market dynamics.

About Allied Market Research

Based in Portland, Oregon, Allied Market Research (AMR) stands as a beacon of premium-quality Market Research Reports and Business Intelligence Solutions. AMR's vision is to empower enterprises - whether global giants or SMEs - with actionable insights and strategic analytics. Under the leadership of Pawan Kumar, CEO, the organization strives to deliver data of unparalleled precision.

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SOURCE Allied Market Research

The comprehensive analysis presented in this report serves as a pivotal touchstone for stakeholders, investors, and participants across the polyacrylic acid value chain. As the industry progresses, the drive towards sustainability, coupled with innovative strides in various sectors, assures that the polyacrylic acid market will continue to thrive in an ever-changing economic landscape.